City of Milwaukee - File #: 181253

• File #: 181253
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 11/27/2018
• In control: COMMON COUNCIL
• Final action: 12/18/2018
• Title: Resolution amending the Land Disposition Report approved by Common Council File No. 161082 relating to the sale of the City-owned properties at 3104, 3116 and 3120 North Dr. Martin Luther King Jr. Drive, in the 6th Aldermanic District.
• Sponsors: THE CHAIR
• Indexes: CITY PROPERTY, PROPERTY SALES

Date	Ver.	Action By	Action	Result	Tally
12/28/2018	0	MAYOR	SIGNED
12/18/2018	0	COMMON COUNCIL	ADOPTED	Pass	15:0
12/11/2018	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Matt Haessly, Dept. of City Development Viola Rembert, HeartLove Place	Pass	5:0
12/6/2018	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/6/2018	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/27/2018	0	COMMON COUNCIL	ASSIGNED TO

Number

181253

Version

ORIGINAL

Reference

161082

Sponsor

ALD. COGGS

Title

Resolution amending the Land Disposition Report approved by Common Council File No. 161082 relating to the sale of the City-owned properties at 3104, 3116 and 3120 North Dr. Martin Luther King Jr. Drive, in the 6th Aldermanic District.

Analysis

This resolution amends the Land Disposition Report approved by Common Council File No. 161082 relating to the sale of the City-owned properties at 3104, 3116 and 3120 North Dr. Martin Luther King Jr. Drive.

Body

Whereas, On December 13, 2016, the Common Council of the City of Milwaukee adopted File No. 161082, a resolution that authorized the sale of the City-owned properties at 3104, 3116 and 3120 North Dr. Martin Luther King Jr. Drive to Heartlove Place, Inc.; and

Whereas, Subsequent to the adoption of File No. 161082, the properties known as 3104, 3116 and 3120 North Dr. Martin Luther King Jr. Drive were combined into one property known as 3116 North Dr. Martin Luther King Jr. Drive; and

Whereas, File No. 161082 also approved a Land Disposition Report for the conveyance of these properties; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the “PURCHASE TERMS AND CONDTIONS” section of the Land Disposition Report approved by Common Council File No. 161082 is amended as follows:

PURCHASE TERMS AND CONDTIONS

The purchase price is $5,000. The conveyance will be on an “as is, where is” basis, including all environmental and geotechnical conditions, if any. The Buyer has agreed to a Payment in Lieu of Taxes (PILOT) Agreement that will be based on the value of the property after full development multiplied by the total City of Milwaukee and Milwaukee Public Schools tax rates. At closing, a commission will be paid to the commercial broker that submitted the offer on behalf of the Buyer. Also, a 30 percent disposition fee shall be paid to the Redevelopment Authority of the City of Milwaukee, less sale and marketing expenses, and the remaining proceeds shall be credited to the Delinquent Tax Fund.

Drafter

DCD:Matt.Haessly:mfh

11/27/18/A